Private Pyle! Why is Your Foot Locker Unlocked?

Retail stocks have, at various intervals in recent quarters, dishonored the platoon of consumer stocks. Those retail names notably lagged amid a plethora of calls for them to go the way of horse buggy whips, seeing as Amazon was effectively rendering them irrelevant. 

As those AMZN-is-eating-the-retail-world-whole proclamations reached a high pitch, markets responding in their usual sinister ways, as the likes of DIS NKE SBUX UA began the break down all the while the brick-and-mortar walking dead like KSS JWN M URBN staged something of a renaissance.

Foot Locker is another name roundly seen as succumbing to the forces of creative destruction.

However, after earnings this morning the name was swiftly gobbled up by eager dip-buyers. In fact, during the Morning Prep Video for Members earlier, we discussed the idea that FL was sporting one of the better chart out there, indicative of a resurgent retail sector. On the daily chart, below, note price basing tightly above all moving averages and clearly much-improved since its June swoon. 

Going forward, FL remains in contention as an actionable long idea, especially with retail's renaissance and Amazon finally cooling off to complete the sentiment unwind.